The DiDi Index Forex Scalper indicator for Metatrader 5 is an oscillator that provides excellent trading signals for short-term traders.
In essence, the indicator is composed of moving averages and it follows the trend.
It appears in a separate chart window as a gray colored line that oscillates above and below zero.
- The trend is considered bullish when the gray line oscillates above zero.
- The trend is considered bearish when the gray line oscillates below zero.
The following indicator inputs can be modified: smoothing period, price values, mean MA period, slow MA period.
Feel free to experiment with the moving averages periods.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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The following chart shows how the DiDi Index Forex Scalper looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The DiDi Index Forex Scalper Indicator?
Find a simple trading example below:
- A bullish signal occurs when the gray DiDi line crosses zero bottom-up.
- Open a buy order and place a stop loss below short-term support.
- Close the buy trade for a fixed profit target, or when the gray line crosses back below zero.
- A bearish signal occurs when the gray DiDi line crosses zero top-down.
- Open a sell order and place a stop loss above short-term resistance.
- Close the sell trade for a fixed profit target, or when the gray line crosses back above zero.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Didi_Index_CR.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration